Living Small And Reducing Debt In A Tiny Home
When small house living was reintroduced approximately 20 years ago, it was at the beginning of the age when people were living more abundantly. There was no real thought that the future would hold a great recession. Banks were lending money like there was no tomorrow. Many people that could not really afford a big house (and a big mortgage) were able to live large. People and businesses were at an all-time high.
We fell into the illusion of a lifetime of success and great times.
Few people had the foresight of what the future held for us so the small house movement didn’t gain much momentum at that time.
The illusion of success was determined by how big your house was, how much stuff you had, and “keeping up with the Joneses” was a way of life.
There was no thought to how the future would play out. Life was good.
The Great Recession
And then the great recession hit. Everything started to slide downhill. We started to realize that the lifestyle that we thought was perfect wasn’t so perfect.
People were losing their jobs, their houses, and their big lifestyles.
There Is Hope
Many people had no choice but to downsize so that they could survive. They downsized their life and their home.
In all this chaos, there are quite a few people that discovered (and are still discovering) the idea that living in a small house has many benefits.
When you live in a small house, your cost of living goes down considerably.
- Mortgage – a tiny house doesn’t cost as much to buy or to build so your mortgage (if you need one) is small. Depending on what you choose and how you choose to live, there is a good possibility that you will be able to pay off and own your house years sooner than you would if you live in a large house.
- Utilities – it is so much cheaper to heat and cool a small house. Less space means that there is less usage; which also makes your house environmentally friendly.
- Upkeep – the cost of repairs and upkeep is considerably less than what you would have in a large house.
- Property – a little house can fit just about anywhere (if you choose to build in an unconventional place you would need to check your local bylaws). Think about it – a small house could potentially be built in places where a large house couldn’t. Think outside the box…
- Property taxes – the smaller the house, the smaller the taxes.
Living Small Means Freedom
You will find that living in a small place reduces or eliminates most of the stress in your life. This is mainly because when you have less, there is less to worry about or stress over.
Cleaning takes very little time.
Yard work is virtually non-existent as a small dwelling and small property usually go together.
The biggest and best positive aspect of living in a tiny home is that you will free up time which means that you will have more time for yourself, your family and your friends. It also means that you can save money to pay off debt, to save for education, to save for retirement, or a dream vacation.